The man page lists all options which take arguments in the form "--option=value". However, pwsafe only parses a few of these options using actual getopt argument capabilities (--mergedb, --file, --dbversion, and some others). Other options (--list, --add, --edit) take arguments but they are parsed using some ad-hoc code not via getopt, which means passing them as "--option=value" causes the program to fail because getopt (rightly!) complains that the options are configured to not take any arguments. The attached patch updates the man page to display the syntax of these affected options separated with a space rather than an equals sign.
The patch